THQ to Layoff 240 Staff, CEO Salary Cut in Half

by playstationiso on February 2, 2012

It appears the rumor about THQ from earlier this week is true. THQ will be laying off 240 staff in order to deal with the company’s drop in revenue. Most of the layoffs will take place this March and will be completed by September. CEO, Brian Farrell, has had his salary cut in half. His base pay will be $359,250, compared to $718,500 last year.

This is following the news that THQ is facing a possible stock delisting by NASDAQ. The stock needs to rise to at least $1 per share for at least 10 consecutive days by July. The stock has risen from 65 cents on Monday, up to 74 cents at the time of this…